Skip to content

CA Final · Financial Reporting · Ind AS 36 Impairment of Assets

Ganga Cement Ltd's reviewer notes that paragraphs 91-95 are blank in Ind AS 36. According to the comparison with IAS 36, what is the position of these paragraphs?

Paragraphs 91-95 are shown as Deleted in IAS 36 itself. Ind AS 36 retains the paragraph numbers, leaving them blank, so that its numbering stays consistent with IAS 36. They are not an India-specific deletion arising from Ind AS 113 or transitional relief.

  1. AThey appear as Deleted in IAS 36, and the numbers are retained in Ind AS 36 for consistencyCorrect
  2. BThey were deleted only in Ind AS 36 due to Ind AS 113
  3. CThey deal with transitional provisions and were omitted as irrelevant
  4. DThey were replaced by guidance on investment property at cost

Explanation

The comparison states that paragraphs 91-95 appear as Deleted in IAS 36, and the paragraph numbers are retained in Ind AS 36 to keep numbering consistent. They are not Ind AS-specific deletions, so attributing them to Ind AS 113 or transition is incorrect.

Did you get it right without looking?

One question tells you little. A timed set on Ind AS 36 Impairment of Assets shows your real accuracy, how long you take and where you lose marks.

Practise Ind AS 36 Impairment of AssetsFree diagnostic mock

More Ind AS 36 Impairment of Assets questions